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June’s oil and gas public offering fetches over $9.3 million

The southeast region led the way, with considerable interest for Kindersley and Lloydminster regions.
The June public offering drew lots of interest.

REGINA – The Government of Saskatchewan's Crown petroleum and natural gas public offering, held on June 6, has raised $9,380,670 for the province.

Of the 100 parcels posted for this sale, 88 parcels received acceptable bids. These bids covered 19,094.52 hectares.

The southeast region generated the most interest, bringing in a little more than $4 million for 52 leases totalling 5,294.367 hectares.

The Kindersley area also saw considerable interest, bringing in more than $3.65 million for 10 leases totalling 6,544.90 hectares.

Accepted bids in the Lloydminster area brought in more than $1.72 million for 26 leases totalling 7,255.24 hectares.

The highest bonus bid received on a lease in this offering is more than $1.38 million from Whispering Hills Resources Ltd. for a 1,042.36-hectare lease northeast of Dodsland in the Kindersley area.

The highest dollar-per-hectare bid received in this offering, at $9,172.44 per hectare, is for a 32.31 hectare lease in the Estevan area, awarded to Surge Energy Inc.

After two of six public offerings this fiscal year, the province has received more than $20.49 million in revenue.

The next scheduled date for a petroleum and natural gas public offering in Saskatchewan is Aug. 8.

More to come.